The US stock market finished higher for second straight session on Wednesday, 21 July 2021, as investors continued hunting recently battered stocks on the back of upbeat quarterly results from companies including Verizon and Coca-Cola.
At the close of trade, the Dow Jones Industrial Average index advanced 286.01 points, or 0.83%, to 34,798. The S&P 500 index added 35.63 points, or 0.82%, at 4,359. The tech-heavy Nasdaq Composite Index was up 133.08 points, or 0.92%, to 14,632.
Total 8 of 11 S&P 500 sectors inclined, with energy (up 3.53%) sector was top gainer, followed by financials (up 1.71%), materials (down 1.09%), industrials (up 1%), information technology (up 0.98%), consumer discretionary (up 0.81%), and communication services (up 0.73%) sectors.
The continued strength on Wall Street partly reflected a positive reaction to the latest batch of earnings news from several big-name companies.
Shares of Coca-Cola (KO) and Verizon (VZ) moved to the upside after reporting better than expected quarterly results and raising their full-year guidance. Healthcare giant Johnson & Johnson (JNJ) also closed higher after reporting second quarter results that exceeded analyst estimates.
Among Indian ADR, Tata Motors added 0.39% to $20.52, INFOSYS added 1.77% to $21.31, WNS Holdings added 0.37% to $81.28, ICICI Bank added 0.69% to $17.52, HDFC Bank added 1.34% to $70.27. Wipro added 0.85% to $8.28. Vedanta added 2.25% to $14.06 and Dr Reddys Labs rose 0.67% to $72.07.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU